Ask a question for this discussion-Risks associated with proprietary technology licenses can be balanced by potential advantages such as increased market access, revenue, cost-sharing, risk reduction, and the development of worldwide standards. Although licensing can be an useful strategy for increasing sales and reaching a larger audience, it is important to carefully weigh the dangers to a business's competitive edge. To decide if licensing is the best course of action, businesses should assess the unique conditions of their technology and the state of the market. To reduce the dangers and increase the rewards of licensing, methods including strong intellectual property protection, cautious licensee selection, and continuous activity monitoring are important. There is a considerable chance of losing proprietary technology if it is licensed to overseas competitors. So it is often best to avoid licensing in these circumstances. In some cases, licensing might still be a wise decision. Licensing may be appropriate when it can be set up to lower the likelihood that licensees will take away a company's technological intellectual property.